The downtrend within correction continues.

The "bearish" correction of the senior level within the wave 2 continues. Locally, the upward correction of the junior level within the wave b of 2 has probably finished, and the third wave c of 2 has started to form. If the assumption is correct, the pair continues falling towards 1.0800 -1.0700. The level of 1.1210 is critical in this scenario. Should this level be overcome, the pair would resume its growth.

Trading tips

Sell the pair from corrections below 1.1210 with the target at 1.0800-1.0700.

Alternative Scenario

The breakdown and consolidation above 1.1210 would allow the pair to continue growing towards 1.1300-1.1400.

EUR/USD: wave analysis

EUR/USD: wave analysis




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